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counterfactual VAR model

Does household net financial wealth explain the asymmetric reaction of household consumption to monetary policy shocks in South Africa?

Eliphas Ndou
Ndou et al (2019) showed that, in absolute terms, the decline in household consumption due to the monetary policy tightening shocks exceeds the increase in household consumption, following the monetary policy loosening shocks of the same magnitude. This paper applies a counterfactual vector...
Sep 2020
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